I think I'll wait for confirmation that McDonalds has signed the new contract before jumping back in. There's about 25 million in revenue right there. Although based on increased IT costs I'd guess that would have to increase substantially.
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I confess I smiled to myself when I saw that. He either desperately needs the money and can't wait for it to bounce back or has lost faith that it ever will.
I look back on that presentation that Phil and the board did on the TASK merger and talking up the companies and feel it was in bad faith. If it wasn't for the fact that it would tank the share price even more I would suggest a law suit because there is no doubt some of this was known.
LOL "CEO of Self" for 4 months.
Very good.
Could be. I think the long lead time for each sale was an obstacle that was frequently dismissed as inconsequential when questioned at AGMs. Having said that Plexure have some great customers and testimonials. They have failed to capitalise on them and haven't expanded into other market segments but the potential is there with the right leadership.
I also think Craig and Phil expected the ASX listing to propel them into the big leagues and miscalculated big time on that. The Aussies invested but they didn't get overly excited about the listing.
PX1 still dropping! I thought it might have hit its bottom but it looks like it's going down to 40 cents. Hopefully that's because Craig is dumping shares at market and things will bounce back in a couple of days.
I hate to say it, but hope is not a good investment strategy.
You need to identify whether there are any points which make Plexure a more promising investment than any other you could make at the moment. What is it? Great (and proven) management and board? Best ever story? Consistently keeping their promises and hitting their targets? Do they have a moat and sit in a market which only can go upwards? Do they actually make money and are likely to repeat this year after year?
If the answer to more than one of these questions is "no" - than they are likely to end up together with the other 95% of startups who are losing on the junk heap of history.
The only thing real will be then the huge amount of shareholder funds they burned getting there.
So - if you really understand the industry and the company (better than the market) - by all means, go for it if the indicators look great. However - if you are just a punter hoping that every dropping startup will come right again just because it is dropping, than your odds are not looking good. Actually - they might look better if you sell out and buy a Lotto ticket instead ... with the latter you know at least that you have (in average) a 50% chance to get your money back.
The only reason I’m hoping the price comes back up is because I already have my shares up for sale. Slightly above the current price and hoping not to drop my ask.
I liked the company a couple of years ago but since then they have over promised and under delivered. The merger looked promising although there are always fishhooks integrating two companies
IMO the current management are not up to scratch. I think the CEO is solid but he has no experience in trouble shooting. His skills at running TASK are not the same as the skills needed to fix this mess. He may be up to the task, he may not. I am underwhelmed by the CFO and the Chair. The Board seem to lack conviction. They were very slow to buy in and back the company. I have all the information I need. I am out.
It may be that things change in the future and that the new CEO is able to get a good handle on things and sort it out but he’s got a big job ahead of him and I will not be waiting around to see how he does but I wish him all the best.
That's an old disclosure 15/10/2021.
There was a question at the last AGM about directors not owning shares in the company and the board said that would be rectified in the near future. It looks like most made good on that promise at what appeared to be an attractive offer of 52 cents.